PennyMac Financial Services Inc Stock Forecast
PennyMac Financial Services Inc stock price ended at $92.89 on Monday, after gaining 2.26%.
(Updated on May 06, 2024)
The PennyMac Financial Services Inc stock price gained 2.26% on the last trading day (Monday, 6th May 2024), rising from $90.84 to $92.89. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.70% from a day low at $91.74 to a day high of $94.22. The price has risen in 7 of the last 10 days and is up by 2.69% over the past 2 weeks. Volume fell on the last day by -20 thousand shares and in total, 257 thousand shares were bought and sold for approximately $23.89 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stockis at the upper part of a horizontal trend and normally this may pose a good selling opportunity but a break-up through the top trend line at $92.99 will give a strong buy signal and a trend shift could be expected. Given the current horizontal trend, you can expect PennyMac Financial Services Inc stock with a 90% probability to be traded between $86.33 and $94.46 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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PFSI Signals & Forecast
Mostly positive signals in the chart today. The PennyMac Financial Services Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $88.27 and $88.82. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 30, 2024, and so far it has risen 8.47%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for PennyMac Financial Services Inc stock
PennyMac Financial Services Inc finds support from accumulated volume at $91.09 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.48 (2.70%) between high and low. For the last week, the stock has had daily average volatility of 2.44%.
Our recommended stop-loss: $89.90 (-3.22%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (PFSI) For The Upcoming Trading Day Of Tuesday 7th
For the upcoming trading day on Tuesday, 7th we expect PennyMac Financial Services Inc to open at $92.95, and during the day (based on 14 day Average True Range), to move between $90.21 and $95.57, which gives a possible trading interval of +/-$2.68 (+/-2.88%) up or down from last closing price. If PennyMac Financial Services Inc takes out the full calculated possible swing range there will be an estimated 5.77% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $91.09, some $1.80 (1.94%) from the current price of $92.89, our system finds the risk reward attractive.
Is PennyMac Financial Services Inc stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for PennyMac Financial Services Inc stock to perform well in the short-term period.
Current score: 1.596 Buy Candidate Unchanged
Predicted Opening Price for PennyMac Financial Services Inc of Tuesday, May 7, 2024
| Fair opening price May 7, 2024 | Current price |
|---|---|
| $92.95 ( 0.0646%) | $92.89 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for PFSI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 95.43 | 2.73 % | |
| R2 | 94.48 | 1.71 % | ||
| R1 | 93.90 | 1.08 % | ||
| Current price: | 92.89 | |||
| Support | S1 | 92.00 | -0.96 % | |
| S2 | 91.42 | -1.59 % | ||
| S3 | 90.47 | -2.61 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 92.89 | |||
| Support | S1 | 91.09 | -1.94% | |
| S2 | 87.00 | -6.34% | ||
| S3 | 86.20 | -7.20% |
PFSI Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 13, 2024 | May 13, 2024 | May 24, 2024 | $0.200 | 0.215% |
| 2 | Feb 01, 2024 | Feb 12, 2024 | Feb 23, 2024 | $0.200 | 0.230% |
| 3 | Oct 26, 2023 | Nov 10, 2023 | Nov 22, 2023 | $0.200 | 0.256% |
| 4 | Jul 27, 2023 | Aug 14, 2023 | Aug 25, 2023 | $0.200 | 0.290% |
| 5 | Apr 27, 2023 | May 15, 2023 | Aug 25, 2023 | $0.200 | 0.290% |
FAQ
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